Commercial Property Law is property used for business purposes, but it can also refer to land which generates some sort of profit for the owner. If the mortgaged premise shall be a commercial property, the mortgagor shall maintain and keep in force during the continuance of the mortgage, loss of rental income and third-party liability coverage in such amount and in such form as the mortgagee may from time to time require.
Dimic Law helps provide with advice they need to ensure the efficiency of transactions well planning for the future to help avoid dispute that can become costly down the road. We serve a range of organizations, to help investors and develop maximized value. We know the importance of timing and efficiency when you are moving your business. We ensure the smooth processing of your commercial property’s sale or purchase and tackle any legal issues that come up during the sale.
On commercial or multi-family residential loans the following additional searches may be prudent:
- The Environmental Law Center, to determine if there have been any complaints or control orders for the property;
- The fire department, to determine if there are any outstanding work orders, deficiencies or requirements related to fire regulations for the property;
- The development compliance branch for the municipality, to determine if there are any outstanding by-law infractions; and
- The planning and development branch for the municipality, to determine if there are any deficiencies, outstanding work orders, building or development permits, or any adverse conditions related to ventilation, heating, plumbing, or gas.
It is important that you consider items when making a large investment in property. This can include tenants occupying the building, property tax trends in the neighbourhood, title searches, zoning by-laws, environmental issues, and other matters that are similar.
Dimic Law allows our clients to be confident in the decision they make when purchasing or leasing commercial real estate, by their attention to detail. We assure that every step has been taken for the clients benefit, our goal is to make sure that our clients are informed and familiar with the property they are buying and know all there is to know about the contract that they will be signing.
Selling or selling commercial real estate, it is important to maximize returns on the investments that you’ve made. Running a successful business, avoiding litigation and other problems when selling commercial real estate is an important part.
Dimic Law understands the comprehensive knowledge of the commercial real estate industry, allowing us to provide our clients with detailed legal advice.
DIMIC LAW is here to PROTECT WHAT MATTERS MOST.
Legal Problem? Better Call Steve